NC Rate Bureau Seeking Big Rate Increase for Homeowners

Insurance rates have a tendency to go up. Small increases are pretty much anticipated, but how would you feel about a nearly 20% increase in homeowner’s insurance? That’s what North Carolinians might be facing.

The North Carolina Rate Bureau is asking to increase homeowner’s insurance across the state of North Carolina by an average of 18.7% next year. The bureau hasn’t asked for an increase since 2014, but the insurance commissioner decided against the raise at that time. The last time the rates actually went up was in 2012. The Bureau requested a 17.7% increase at the time, but they settled for 7%.

If you have any opinions one way or the other on the matter, you might want to voice them.